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A&E Television Networks is buying Lifetime Entertainment Services, consolidating some of the biggest names in cable television under one corporate entity.

A&E is a joint venture of Disney-ABC Television Group, Hearst Corp. and NBC Universal. Lifetime is a joint venture of Disney and Hearst.

Financial terms of the deal, which is expected to close by the end of the year, were not disclosed.

Abbe Raven, president and chief executive officer of A&E Television Networks, will serve as head of the combined company following the closing. The networks that will be under the new company, which will retain the A&E name include:

A&E Network

History

Lifetime Television

Lifetime Movie Network

Bio

History International

Lifetime Real Women

History en Español

Military History

Crime & Investigation Network

"Consolidating these networks puts a powerful portfolio of distinct brands under the strategic vision of one of the industry’s most innovative and effective leaders,” Anne Sweeney, co-chairman of Disney Media Networks and president of the Disney-ABC Television Group, said in a statement.

Under the agreement, NBCU may elect or be forced to exit the venture during a period of up to 15 years, in which event Disney and Hearst could become 50-50 owners of the company.

Los Angeles Business from bizjournals

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